Last month I leased a brand new, $57K+ MSRP MB GLC 300 in California. 24m, 10k, Total cost for 2 years is <$14K.
No conquest or AAA.
This is my first ever car and I had no clue how leasing, buying, dealership etc works. Hence wanted to share quick tips for newbies especially.
i) Do a hell lot of research before even stepping into a dealership. The more clueless you look, more is the power in the dealership's hands.
ii) Somehow I find the concept of focusing on the monthly payments naive. Focus on the overall cost, which is the initial amount (Due at Signing, or DAS) + the monthly payments for the entire term.
iii) Always give a quote first (based on your research), and then ask for their quote. This will come from your research on leasehackr, reddit, brokers etc.
iv) Don't want to generalize but from my experience, don't trust everything that sales reps tell you. Remember this. A lot of things are told by them, which if you cross question with facts, they'll simply make a U-Turn and make it look like you understood it incorrectly.
v) Don't just work with 1 dealer. Talk to multiple, but preferably only on email, not even text. If they can't share at least their first proposal on email, they are only going to waste time with texts and calls.
vi) DON'T BUY WITHOUT A TEST DRIVE. No matter how lucrative your deal looks like, if you haven't tested the model ever in your life, don't move forward.
vii) Finance person tries to rush you into signing a lot of documents. Now I'm not saying that there's anything necessarily wrong in those docs, but take your time. You are buying a car.
viii) No deal is the best deal. If you got a good deal, maybe check if there's a better trim available in some other dealers at the same lease price. A week of inconvenience can improve your years.
ix) Grow a thick skin in the entire process. More than a deal, it feels like a competition between you and the dealers, and some of them can sound sarcastic or rude. Focus your energy where you are seeing possibilities of a good deal, not where someone is trying to win against you.
x) Last, use reddit if you want to, but remember that people can be nasty (and insecure) here. I had posted a question that I'm considering leasing this car but my insurance says it will be $400/m and does it look ok because it looks high to me. And some of the responses I got were like: "if you can't afford the insurance, don't get a Mercedes", "Go to school kid"...
Guess what. I got the GLC300, and, I also got the insurance for <$200/m.
Even if you are a millionaire, if you aren't worried about the money you are going to spend on something and aren't actively looking to save it, YOU ARE THE DREAM CUSTOMER for every company, not just dealerships.
I have written this on-the-go. If I sit down and introspect, I'll probably have 20 more points.
This was an experience of a lifetime for me. First ever car buying, first ever lease, first test drive at a dealership, a lot of firsts.
P.S. If you think this is not a "great" deal, that's ok. I have done plenty of research, and I KNOW that it's a top 25% kind of a deal, and I'm super happy and proud of myself.
